Barclays say the most recent driver of the rally last week was Nvidia earnings, and now that's in the rear-view mirror " the risk rally should take a breather from the frantic pace of recent weeks"

Analysts at the bank haven't turned bearish. And on the economy they says the US remains an outlier in comparison with other economies.

In related opinion, Goldman Sachs takes note that hedge funds sold tech stocks at their highest pace in almost eight months in the week to February 23. Added that the tech share selling by hedge funds ranked among the highest seen in the last five years, according to the Goldman Sachs note released on Friday and seen by Reuters on Monday.

spx barlcays Goldman Sachs 27 February 2024 2